CFTC Budget Crunch: Can it Oversee Swaps Market?
While big brokers are spending hundreds of millions of dollars on technology for connectivity to clearing houses and swap execution facilities (SEFs) to be in compliance with Dodd-Frank, their regulator is not going to have the risk management tools to watch over their trading.
"Putting people ahead of technology will not ensure our compliance with Dodd-Frank, and it will certainly not ensure that we do so in the most cost-effective manner," said CFTC Commissioner Scott O'Malia.
Publication
Advanced Trading
Date
January 26, 2011
Cross References
Dodd-Frank Act, Title VII, Secs. 728-730